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Tag: HVL

  • Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    BENGALURU/MUMBAI: Hinduja Ventures Limited (HVL) reported more than doubling (up 129 percent) of its revenue for the quarter ended June 30, 2016 (Q1-17, current quarter) vis-à-vis revenue for the corresponding year ago quarter.

    HVL revenue for Q1-17 was Rs 60.95 crore, while it was Rs 26.63 crore for the corresponding period previous year.
    However, quarter-over-quarter (q-o-q), revenue for the current quarter declined 35 percent from Rs 93.75 crore in Q4-16. The company attributes the increase in revenue to sale of setup boxes/ broking income/ income from trading of securities.

    The company reported a year-over-year (y-o-y) growth in profit of 1.3 percent for the current quarter at Rs 24.21 crore as compared to Rs 23.90 crore and a 70.8 percent q-o-q growth as compared to Rs 14.18 crore.

    HVL operates across three segments of media and communication, real estate, and investment and treasury. HVL is the holding company of integrated media companies IndusInd Media and Communications Limited (IMCL) and Grant Investrade Limited (GIL), which has launched the headend-in-the-sky (HITS) digital platform under brand name NXT DIGITAL.

    HVL’s media and communications segment

    Revenue from its media and communications segment declined q-o-q to less than a fourth (down 76.6 percent). HVL reported revenue of Rs 14.40 crore in Q1-17 and Rs 61.69 crore in Q4-16. The segment reported an operating loss of Rs 5.61 crore in the current quarter as compared to an operating loss of Rs 0.37 crore in Q1-16 and an operating profit of Rs 2.71 crore in Q4-16. For the year ended March 31, 2016 (FY-16), the segment reported an operating profit of Rs 10.09 crore.

    HVL to invest Rs 271 crore for stake in IMCL

    HVL proposes to purchase 43,03,000 equity shares of Rs 10 each for a premium of Rs 456 per share of its subsidiary IMCL.
    This stake purchase, which constitutes 5.82 percent of IMCL’s paid up equity capital, will cost HVL Rs 200.52 crore. HVL also proposes to buy 7,03,60,0000 IMCL preference shares of Rs 10 each at par from its wholly owned subsidiary shares of GIL. The IMCL stake purchase from GIL constitutes 26.02 percent of paid up preference capital of IMCL and will cost HVL Rs 70.36 crore.

    GIL to de-merge HITS to IMCL

    GIL will de-merge its HITS business undertaking to IMCL, the HVL board has decided. The scheme is subject to consent(s), approval(s) permission(s) of statutory authorities(s) if any, including, in particular, the approval from the Ministry of Information and Broadcasting (MIB), Government of India for transfer and vesting of HITS License held by GIL in favour of IMCL.

    HVL says that India is yet to witness a genuine and significant revolution in the digital delivery in true sense, especially in tier 3 and 4 cities and rural hinterland.

    The digitalization with many upcoming value added services of over 160 million (16 crore) TV homes is still far from over. It is envisaged that the combined strength of fibre based digital cable delivery and the satellite based digital signals for cable industry will enhance and create a new paradigm in the digital content delivery platform in terms of reach, value for money, state of the art technology, quality of services and significant value added digital services.

    The company also feels that this will further enhance shareholders value by consolidating the digital media distribution businesses and will help to rationalize the group structure by optimizing the resources and integrating operational synergies both in revenue and costs.

    The combined entity will also be able to venture and grow in the newer areas and many digital technology-linked value-added services that would be relevant for this business and same set of customers.
    According to HVL, its broadband business has also been restructured for a direct focus and is planned for a manifold technology-based growth.

    The synergy will be able to consolidate HVL’s media investments and would  enhance and maximize the shareholders value, avers the company.

    GIL’s (HITS business) merger into IMCL will be a unique first in the country in digital cable and has a long term positive financial implication by increasing competitive strength, technology synergies, customer service efficiency and high productivity with a genuine all-India reach. HVL says adding that similar models in developed countries have witnessed a prime leadership position in mid to long term.

    The company states that this arrangement will also strengthen HVL’s investment in media business, which will, in turn, unlock the value of HVL’s shareholders.

    Note: (1) The unit of currency in this report is Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The numbers in this report are standalone unless stated otherwise

    (3)  1 USD= INR 67

     

  • Hinduja Ventures increases stake in Indusind Media

    Hinduja Ventures increases stake in Indusind Media

    MUMBAI: The Hinduja group is in a consolidation mood. Especially in its media business. Group company Hinduja Ventures informed the Bombay stock exchange today that it was buying both ordinary and preferential shares of Indusind Media & Communications Ltd (IMCL) from another Hinduja venture Grant Investrade Ltd (GIL).

    IMCL runs the InCable Net, IN Digital, IN2Cable and IN Phone businesses, while GIL is getting ready to aggressively roll out its HITS platform NXT Digital after its launch last year.

    In the communiqué, HVL has stated that it will be buying 43.03 lakh Rs 10 face value shares (equal to 5.82 per cent of IMCL’s paid up capital) of IMCL at a premium of Rs 456 per share, and it will also purchase 7.04 million preference shares (equal to 26.02 per cent of IMCL’s paid up preference capital) of Rs 10 each at par from GIL.

    HVL’s holding in IMCL will rise to 61.91 per cent from 56.09 per cent once the transaction is completed by 20 July 2016.

    IMCL, according to the notification had a turnover of Rs 434- odd crore and a net worth of 139.20 crore in the year ended 31 March 2016.

    Observers say that the transaction will allow some funds to be infused into GIL as it moves to take NXT Digital to its next phase.

  • Hinduja Ventures increases stake in Indusind Media

    Hinduja Ventures increases stake in Indusind Media

    MUMBAI: The Hinduja group is in a consolidation mood. Especially in its media business. Group company Hinduja Ventures informed the Bombay stock exchange today that it was buying both ordinary and preferential shares of Indusind Media & Communications Ltd (IMCL) from another Hinduja venture Grant Investrade Ltd (GIL).

    IMCL runs the InCable Net, IN Digital, IN2Cable and IN Phone businesses, while GIL is getting ready to aggressively roll out its HITS platform NXT Digital after its launch last year.

    In the communiqué, HVL has stated that it will be buying 43.03 lakh Rs 10 face value shares (equal to 5.82 per cent of IMCL’s paid up capital) of IMCL at a premium of Rs 456 per share, and it will also purchase 7.04 million preference shares (equal to 26.02 per cent of IMCL’s paid up preference capital) of Rs 10 each at par from GIL.

    HVL’s holding in IMCL will rise to 61.91 per cent from 56.09 per cent once the transaction is completed by 20 July 2016.

    IMCL, according to the notification had a turnover of Rs 434- odd crore and a net worth of 139.20 crore in the year ended 31 March 2016.

    Observers say that the transaction will allow some funds to be infused into GIL as it moves to take NXT Digital to its next phase.

  • FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    BENGALURU:  Hinduja Ventures Limited (HVL) reported more than triple the standalone revenue for the year ended 31 March 2016 (FY-16, current year) at Rs 332.49 crore as compared to Rs 110.45 crore in the previous year. The net profit for the year on grew 8.6 percent to Rs 100.59 crore as compared to Rs 92.59 crore in the previous year. The company attributes the increase in revenue to sale of set top boxes.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    For the quarter ended 31 March 2016 (Q4-16, current quarter), HVL reported standalone revenue was Rs 93.75 crore as compared to Rs 22.45 crore in the corresponding year ago quarter. PAT for the current quarter declined 20.3 percent year-over-year to Rs 14.18 crore as compared to Rs 17.78 crore in Q4-15.

    Consolidated total income for the year ended was Rs. 679.98 crore EBITA was Rs. 125.79 crore and net loss of Rs. 81.21 crore.

    The HVL board has considered and recommended the Interim dividend of 175 percent on face value of Rs. 10/- per share translating into Rs. 17.50/- per share for the financial year 2015-2016 declared on March 14, 2016 as final dividend.

     

  • FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    BENGALURU:  Hinduja Ventures Limited (HVL) reported more than triple the standalone revenue for the year ended 31 March 2016 (FY-16, current year) at Rs 332.49 crore as compared to Rs 110.45 crore in the previous year. The net profit for the year on grew 8.6 percent to Rs 100.59 crore as compared to Rs 92.59 crore in the previous year. The company attributes the increase in revenue to sale of set top boxes.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    For the quarter ended 31 March 2016 (Q4-16, current quarter), HVL reported standalone revenue was Rs 93.75 crore as compared to Rs 22.45 crore in the corresponding year ago quarter. PAT for the current quarter declined 20.3 percent year-over-year to Rs 14.18 crore as compared to Rs 17.78 crore in Q4-15.

    Consolidated total income for the year ended was Rs. 679.98 crore EBITA was Rs. 125.79 crore and net loss of Rs. 81.21 crore.

    The HVL board has considered and recommended the Interim dividend of 175 percent on face value of Rs. 10/- per share translating into Rs. 17.50/- per share for the financial year 2015-2016 declared on March 14, 2016 as final dividend.

     

  • IMCL pares Hinduja Ventures PAT in FY-2014

    IMCL pares Hinduja Ventures PAT in FY-2014

    BENGALURU: Hinduja Ventures Limited (HVL) has reported consolidated PAT of just Rs.0.20 crore in FY-2014 as compared to the PAT of Rs 80.22 crore in FY-2013. On a standalone basis, HVL reported PAT of Rs 82.03 crore, 6.9 per cent more than the Rs 76.75 crore in FY-2013. Its media and communication segment reported a loss of Rs 197.33 crore in FY-2014 as compared to a profit after tax of Rs 46.88 crore in the previous fiscal. HVL’s diluted EPS (of face value Rs 10) went down to just Rs 0.10 in FY-2014 from Rs 39.03 in FY-2013.

     

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore.

     

    (2) This report focuses more on IMCL/HVL’s media and communication numbers.

     

    (3) All figures are consolidated unless stated otherwise.

     

    HVL operations and investments span over three segments namely media, real estate and treasury. The Company’s principal business investment is in media and communications via its valuable stake in IndusInd Media & Communications Limited (IMCL).

     

    Bad debts and hence HVL’s media and communications segment results have significantly reduced the company’s PAT in FY-2014.

     

    HVL’s media and communications segment

     

    HVL’s media and communications segment reported revenue of Rs 638.84 crore in FY-2014, which was 4.6 per cent more than the Rs 610.63 crore in FY-2013. The capital employed by the segment went up 7.9 per cent in FY-2014 to Rs 1242.12 crore from Rs 1151.12 crore in the previous year.

     

    IMCL, in which HVL owns 61.71 per cent stake, reported loss of Rs 118.84 crore in FY-2014 versus a profit of Rs 36.24 crore in FY-2013, and hence was a major contributor to the loss by HVL’s media and communications segment. IMCL consolidated EBIDTA for the year stood at R 26.07 crore as against R 141.15 crore in the previous year says the company.

     

    IMCL reported revenue of Rs 572.46 crore in FY-2014, which was 4.5 per cent more than the Rs 547.56 crore in FY-2013. The subsidiary’s paid-up capital more than doubled from Rs 73.91 crore to Rs 173.91 crore because of infusion of Rs 100 crore by HVL by way of purchase of 10 per cent, redeemable cumulative preference shares of Rs 10. HVL says that IMCL needs funds for consolidation in phase I and phase II and to digitise network in phase III and phase IV, and hence the fresh investment.

     

    IMCL’s reserves dropped 43.3 per cent to Rs 155.37 crore in FY-2014 versus Rs 274.20 crore in FY-2013. IMCL’s total assets jumped 9.3 per cent in FY-2014 to Rs 1178.50 crore from Rs 1078.62 crore reported last year. IMCL’s liabilities went up 16.3 per cent in FY-2014 to Rs 849.23 crore from Rs 730.51 crore in FY-2013.

     

    Let us look at the other numbers reported by HVL for FY-2014

     

    HVL consolidated revenue went up 10.2 per cent in FY-2014 to Rs 773.49 crore from Rs 701.96 crore in the previous year. 

     

    HVL’s reported 8.7 per cent increase in revenue from cable television transmission in FY-2014 to Rs 620.07 crore from Rs 570.36 crore in FY-2013. Its income from sale of set top boxes/modem’s fell to less than a seventh (fell by 7.28 times) to Rs 2.43 crore in FY-2014 from Rs 17.67 crore in FY-2013. HVL’s advertisement income fell 20.6 per cent in FY-2014 to Rs 4.02 crore from Rs 5.07 crore in FY-2013. The discount from broadcasters fell 37 per cent in FY-2014 to Rs 5.82 crore from Rs 9.24 crore in FY-2013.

     

    Its total expenditure went up 48.4 per cent to Rs 871.52 crore in FY-2014 from Rs 587.38 crore in FY-2013. The company’s depreciation and amortisation went up 80.7 per cent in FY-2014 to Rs 121.84 crore from Rs 67.41 crore in FY-2013. HVL has more than doubled (2.74 times) its provision for bad debts in FY-2014 at Rs 173.63 crore versus Rs 63.36 crore in FY-2013. The company has also made a provision for doubtful advances in FY-2014 at Rs 15.98 crore, versus nil in the previous year. HVL’s finance cost has almost tripled (went up 2.67 times) in FY-2014 to Rs 120.30 crore from Rs 45.14 crore in FY-2013.

     

    HVL’s direct cost and operating expense (DCOE) went up 20.3 per cent to Rs 293.47 crore in FY-2014 from Rs 235.21 crore in FY-2013. A break up of DCOE is: Cable Television Operating expenses went up 20.9 per cent in FY-2014 to Rs 284.46 crore from Rs 235.21 crore; It paid 17 per cent higher bandwidth charges in FY-2014 of Rs 4.4 crore versus Rs 3.76 crore in FY-2013; It paid 8.8 per cent lower lease rental-duct at Rs 4.62 crore in FY-2014 from Rs 5.05 crore in FY-2013.

     

    The HVL board has recommended a dividend payment of R 15/- per equity share (150 per cent dividend on face value of R 10/- per Equity Share) for financial year 2013-14. The dividend will result in a payout of R 36.07 crore including Dividend Distribution Tax, representing 43.98 per cent of the current year earnings says HVL.

     

    Click here to read the annual report

  • Hinduja Ventures media & communications segment q-o-q loss down for Q3-2014

    Hinduja Ventures media & communications segment q-o-q loss down for Q3-2014

    BENGALURU: IndusInd Media & Communications Ltd. (IMCL), a subsidiary of Hinduja Ventures Ltd. (HVL) and one of India’s largest integrated media companies contributed a lower loss to HVL’s balance sheet  during Q3-2014 as compared to the immediate trailing quarter.

     

     HVL reported almost half the loss (55.6 per cent) at Rs (-1.45) crore from its media and communication segment during Q3-2014, as compared to the Rs (-2.60) crore during Q2-2014. During the corresponding quarter of last year, HVL’s media and communications segment had reported a profit before tax of Rs0.41 crore. 

     

    However, this segment reported loss of Rs (-8.45) crore during the nine month period ended December 31, 2014 (YTD) as compared to a profit of Rs 1.67 crore during the corresponding period of last fiscal. During FY 2013, HVL’s media and communication segment had reported a profit of Rs 0.59 crore. 

     

    Let us look at the other figures vis-?-vis media and communications reported by HVL during Q3-2014

     

    HVL reported a 9.24 per cent increase in standalone total income of Rs 28.59 crore during Q3-2014 as compared to the Rs 26.18 crore during Q2-2014, but almost flat (1.07 per cent more) as compared to the Rs 28.31 crore during Q3-2013. YTD for the current fiscal, HVL reported a 9.8 per cent growth to Rs 81.39 crore as compared to the Rs 74.09 crore during the nine month period ended 31 December 2012. 

     

    During the quarter, HVL’s investment and Treasury segment was single largest contributor to revenue with revenue of Rs 28.58 crore, with Real estate and ‘Others’ contributing Rs 0.04 crore and Rs 0.0139 crore to revenue respectively. Contribution by HVL’s media and communication segment to revenue was NIL. Media and communication segment had contributed Rs 1.09 crore during Q2-2014 and Rs 1.46 crore during Q3-2013 to HVL’s total income.

     

    HVL reported PAT of Rs 23.54 crore during Q3-2014 as compared to the Rs 19.68 crore during Q2-2014 and Rs 23.83 crore during Q3-2013. 

     

    Capital Employed (segment assets minus segment liabilities) by HVL’s media and communication segment during Q3-2014 was more than triple (3.05 times) at Rs 295.79 crore as compared to the Rs 96.75 crore during Q3-2013, and  fraction (-0.18 per cent) lower than the Rs 295.31 crore during the immediate trailing quarter. 

     

    With an estimated 8.5 million subscribers across 36 major cities, HVL through IMCL offers over 350 channels in the digital mode. It claims to have a backbone of over 10,000 kms of hybrid fiber optic network through which it also offers broadband services with its national ISP license. IMCL has gone ahead with the first II Phases of the digital revolution being ushered in by Governments mandated policy of digitising the Cable Networks.  

     

    The Digital Addressable System (DAS) was introduced by Government on 1 November 2012 in phases and offers a unique opportunity to IMCL to make all its Subscribers addressable and monetize its subscription revenues manifold. HVL says that IMCL has planned new services for the digital cable foray, apart from the Broadband services like HD Services, Hybrid STBs for Cable and Internet, Value added services for Digital Cable.

  • Q2-2014: Hindustan Ventures: Indusind media triples capital employed

    Q2-2014: Hindustan Ventures: Indusind media triples capital employed

    BENGALURU: IndusInd Media & Communications Limited’s (IMCL) holding company Hinduja Ventures Limited (HVL) reported profit of Rs 19.68 crore about 0.8 per cent lower as compared to Rs 19.84 crore and five per cent higher than the Rs 18.74 crore profit for Q1-2014.

     

    Capital employed (segment assets minus segment liabilities) for media and communications segment more than tripled (3.08 times) to Rs 295.31 crore in Q2-2014 as compared to the Rs 95.94 crore for Q2-2013 and 3.03 times the Rs 97.44 crore for the immediate trailing quarter Q1-2014.

     

    For the current quarter, HVL reported a total income of Rs 26.18 crore, 6.2 per cent more than the Rs 24.65 crore for Q2-2013 but 1.7 per cent lower than the Rs 26.62 crore for Q1-2014.

     

    However, HVL reported a loss of Rs (-2.60) crore from its media and communications segment for Q2-2014 as compared to small profit of Rs 0.5717 crore for the corresponding quarter of last year and a loss of Rs (-4.40) crore for the immediate trailing quarter. Revenue from this segment in HVL’s financials for Q2-2014 fell by 25.3 per cent to Rs 1.09crore as compared to the Rs 1.46 crore for Q2-2013. For Q1-2014, revenue from media and communications was also Rs 1.09 crore.

     

    HVL claims that IMCL has an estimated subscriber base of 0.85 crore subscribers in 36 major cities in the country and that IMCL has planned new services for the digital cable foray, apart from the broadband services like HD services, hybrid STBs for cable and internet, and value added services for digital cable. It says that the Digital Addressable System (‘DAS’) that was introduced by the government on 1 November 2012 in phases – offers a unique opportunity to IMCL to make all its subscribers addressable and monetise its subscription revenues manifold.

     

    Three other segments besides media and communications contribute to HVL’s revenue – real estate; investments and treasury; and others. While all the other segments reported small loss, investments and treasury reported a profit of Rs 24.15 crore for Q2-2014 as compared to the Rs 22.35 crore for Q2-2013 and the Rs 24.43 crore for Q1-2014.

  • Hinduja Ventures investments PAT up for Q1-2014

    Hinduja Ventures investments PAT up for Q1-2014

    BENGALURU: IndusInd Media & Communications Limited’s (IMCL) holding company Hinduja Ventures Limited (HVL) reported Rs 18.74 crore profit for Q1-2014, 10.41 per cent higher as compared to the Rs 16.97 crore for Q1-2013 and 16.43 per cent more as compared to the PAT for Q4-2013. Profit from HVL’s investments and treasury segment was eroded by losses from its media and communications segment, real estate segment and the others segment.

     

    Let us look at HVL’s results for Q1-2014

     

    HVL reported a net income from operations for Q1-2014 of Rs 26.62 crore for Q1-2014 which was 25.98 per cent higher than the Rs 21.13 crore for Q1-2013 and 32.72 per cent more than the Rs 20.05 crore for Q4-2013.

     

    HVL’s total expense for Q1-2014 at Rs 6.92 crore was almost triple (more by 189 per cent) the Rs 2.39 crore for Q1-2013 and 72.09 per cent higher than the Rs 40.22 crore for Q4-2013.

     

    Revenue from media and communications segment fell by 25 per cent from Rs 1.46 crore in Q1-2013 Rs 1.09 crore. Loss from this segment more than quadrupled (went up by 308.01 per cent) from Rs (-1.08) crore in Q1-2013 to Rs (-4.40) crore in Q1-2014. This segment had reported a profit of Rs 0.6952 crore in Q4-2013.

     

    Capital employed by this segment increased 1.1 per cent in Q1-2014 to Rs 97.44 crore from Rs 96.36 crore in Q1-2013 and was 1.8 per cent more than the Rs 95.75 crore for Q4-2013.

     

    Revenue from investment and treasury segment recorded an increase of 29.75 per cent to Rs 25.52 crore in Q-2014 as compared to the Rs 19.67 crore for Q1-2013 and was 27.3 per cent more than the Rs 20.05 crore for Q4-2013.

     

    HVL’s investment and treasury segment posted a profit of Rs 24.43 crore which was 32.92 per cent more than the Rs 18.38 crore for Q1-2013 and 36.36 per cent more than the Rs 17.92 crore for Q4-2013.

     

    As mentioned above HVL’s real estate and ‘Others’ segment posted small numbers to erode the profits from the investment and treasury segment as mentioned above.

     

    HVL estimates that it has 8.5 million subscribers across 36 major cities. The company offers over 350 channels in the digital mode. It claims to have a backbone of over 10,000 kms of hybrid fiber optic network through which it also offers broadband services with its national ISP license. IMCL has gone ahead with the first two phases of the digital revolution being ushered in by government mandated policy of digitising the cable networks. The Digital Addressable System (DAS) was introduced by the government on 1 November, 2012 in phases and offers a unique opportunity to IMCL to make all its subscribers addressable and monetise its subscription revenues manifold. HVL says that IMCL has planned new services for the digital cable foray, apart from the broadband services like HD services, hybrid STBs for cable and internet value added services for digital cable.

     

    HVL says that its real estate projects are taking off in Bangalore. Its subsidiary M/s IDL Specialty Chemicals has land in Hyderabad.